Featured Article

Brussels - Department of Trade and Industry (DTI) Secretary Ramon Lopez and Special Envoy to the European Union (EU) and former Senate President Edgardo Angara urged the EU Parliament to further engage the Philippines (PH) through the expansion of the General System of Preferences plus (GSP+) in a presentation at the EU Parliament and meetings with various trade institutions and parliament ministers.

“We want to follow thru the dialogue on the expansion of the GSP+ and move to a long lasting trade concession via a Free Trade Agreement,” Secretary Lopez said.

The trade chief highlighted the good economic relationship between the PH and EU, and the need to continue the mutually beneficial trade concession. EU is the 4th largest export market of PH, with over 6 billion Euros worth of exports and 36% growth in the first two quarters of 2017.

In the meeting, Secretary Lopez and Special Envoy Angara assured the parliament and business institutions that Philippines is a strong economic partner and there will be a continuing dialogue to ensure that they get the real and more objective situation in the country.Read more.

PH SEEKS MORE BILATERAL COOPERATION WITH AUSTRALIA, NEW ZEALAND

PASAY CITY—As part of the government’s objective to strengthen its economic relations with external partners, the Philippines (PH) recently (10 September 2017) discussed with Australia (AU) and New Zealand (NZ) bilateral trade issues to bring the Philippine relations with these two countries into a more strategic direction.

At the sidelines of the PH hosting of the 49th ASEAN Economic Ministers’ (AEM) Meeting and Related Meetings, Department of Trade and Industry Secretary Ramon Lopez, who also serves as the 2017 AEM chairperson, convened separate bilateral meetings with Australian Minister for Trade, Tourism, and Investment Steven Ciobo, as well as with New Zealand Member of Parliament Chester Borrows.

PH Trade Secretary Ramon Lopez convened a bilateral meeting with Australian Minister for Trade, Tourism, and Investment Steven Ciobo at the sidelines of the PH hosting of the 49th ASEAN Economic Ministers’ Meeting and Related Meetings.

Sec. Lopez and Minister Ciobo discussed bilateral trade issues to enable PH to increase its exports to AU. In particular, Sec. Lopez raised the anti-dumping duty imposed on PH canned pineapples and resealable can end closures, as well as inquired as to AU’s processes to facilitate the entry of PH bananas to AU. Minister Ciobo reassured the DTI head of AU’s full cooperation with regard to the anti-dumping issues. He also expounded on AU’s quarantine procedures.

The Australian Minister highlighted that Australian businesses are looking into investing in PH, given the improved business environment in the country. However, Minister Ciobo also raised the issue on the 60-40 foreign equity participation, to which Sec. Lopez remarked, “The government is trying to revise and repeal the relevant laws to enable increased investments to the country”.

PH also expressed its appreciation for all the assistance extended, in particular, those provided by the AU-led Aid for Trade initiative, as well as the scholarships granted to Filipino students through the Australia Awards.Read more.